How To File Your Robinhood Crypto Taxes With Koinly - cyptoranking.com

2024-05-12

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New Crypto Tax Guidelines in United States — Ally Zach (@0xallyzach) October 6, 2023 How To File Your Robinhood Crypto Taxes With KoinlyRelative to the go-go days of 2022, decentralized lending activity has been modest with Compound's total value locked standing at just about $1.6 billion, compared to over $20 billion at its peak. However, the bear market came to the crypto industry, and the interest in the metaverse has plummeted in the last months. At least this is what data from the US Patent and Trademark Office (USPTO) suggests, shared by the expert trademark attorney, Mike Kondoudis (@KondoudisLaw) on X (formerly Twitter).

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CrypToadz #4030 NFT’s price history. Source: OpenSea The wave count indicates that the XRP movement since the August 17 bottom could be an A-B-C structure (black). This is characterized by the three-wave decrease in what is likely to be wave B. 5 Places You Can Invest In Cryptocurrency In MalaysiaThe Bitcoin rat. Source: Saiers In addition, blockchain data shows that the attacking account is the deployer for the AwardCenter contract.

CryptoNight uses the CryptoNote consensus protocol to strengthen privacy so that nobody can tell which participant in the transaction is paying and who is receiving the money. Also, the entire rally was preceded by a bullish divergence in the RSI (green line). This occurs when a momentum increase accompanies a price decrease and often precedes trend reversals. BTC/USD Forecast PollUnlike various ether futures ETFs expected to launch in the coming days, the Invesco Galaxy Ethereum ETF would hold ether directly — mirroring other proposals made this month. BTC price currently trades at $27411, trading mostly sideways. However, the price has increased significantly since it started to move upwards this January.

US dollar stablecoin issuer Circle has announced that it has begun minting USD Coin (USDC) natively on Ethereum layer 2 scaling protocol Polygon. Polygon’s native token (MATIC) experienced a 16.4% rally that coincided with the launch of Polygon 2.0 Goreli testnet on Oct. 4. However, the resistance at $0.60 proved stronger than anticipated and was followed by a 10.6% decline over the six days leading into Oct. 10. This decline was exacerbated by negative news regarding the departure of a key co-founder and weak activity in Polygon’s zero-knowledge rollup (ZK-rollup) subnet.Polygon (MATIC) 12-hour price in USD. Source: TradingViewMATIC’s price has wiped out previous gains from the early October rally, erasing the bullish momentum driven by the expectations of the protocol’s upgrades. Rallies tend to follow mainnet and protocol updatesPolygon 2.0 is a network of ZK-based layer-2 chains unified via a novel cross-chain coordination protocol. Polygon’s 2.0 scaling technology was unveiled in June 2023 as a plan for a scaling ecosystem consisting of four layers: staking, execution, interoperability and proving. Each of these layers contributes to creating an interconnected ecosystem of chains that facilitate secure, fast and highly cost-effective transfers.Among the benefits of Polygon 2.0 are enhanced security and privacy through ZK-proofs, full compatibility with the Ethereum Virtual Machine (EVM) and instant cross-chain interactions without requiring additional security or trust assumptions. It’s worth noting that the project is continuing to develop its Zero-Knowledge Scalable Transparent Argument of Knowledge-based layer-2 solution, Miden.One could argue that the recent 10.6% retracement merely reflects an adjustment to the overexcitement triggered by the testnet launch. However, other factors may have contributed to investors’ worsening sentiment toward Polygon. For instance, Polygon’s ZK subnet, zkEVM, has lagged behind competitors in activity and deposits.Network data shows Polygon losing steam as new competition emergesZK networks daily active and transactions. Source: artemis.xyzMetrics from Artemis, an on-chain data provider, reveal a significant disparity between Polygon zkEVM’s 6,210 active addresses compared to StarkNet’s 154,390 and zkSync ERA’s 239,810. A similar discrepancy exists when analyzing the number of daily transactions, with Polygon’s ZK-rollup also trailing competitors.Taking a broader perspective on the total number of transactions and deposits in the Polygon network yields suboptimal results. For example, Polygon’s total value locked (TVL) stands at $756 million, according to DefiLlama, which is less than half of Arbitrum’s layer-2 scaling solution.Total value locked (TVL) in USD. Source: DefiLlamaIt’s noteworthy that despite being launched much earlier than most Ethereum layer-2 solutions in June 2020, Polygon is now facing direct competition from Optimism and Base.The departure of Polygon’s co-founder, Jaynti Kanani, on Oct. 4 after six years with the project also triggered some degree of discomfort among investors, given the project’s proximity to the crucial completion of its improved multiple-layer scalability solution. Interestingly, this decision follows the departure of Polygon Lab’s CEO, Ryan Wyatt, in July 2023, not long after joining the company in February 2022.Further impacting MATIC’s performance was a decline in the number of active addresses using the Polygon network’s decentralized applications (DApps).Polygon network DApps active addresses, 30-day change. Source: DappRadarOn average, the top 12 DApps on the Polygon network experienced a 17% decline in the number of active addresses over the last 30 days. This issue was particularly concerning in the NFT and decentralized finance markets, notably affecting applications like Uniswap, OpenSea and Move Stake.Related: Circle rolls out native USDC tokens on PolygonRegardless of the reasons behind MATIC’s token surge earlier in October, the recent 10.6% negative performance can be attributed to reduced network activity, the departure of a co-founder during a critical upgrade phase and stiff competition from other ZK scaling solutions. Ultimately, there is enough bearish news flow to justify this correction, although the team has been consistently delivering the necessary updates and improvements to the Polygon network. Investors should closely monitor the project’s progress in addressing these challenges and capitalizing on the innovations of Polygon 2.0.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. Fundamentals:What is a decentralized exchange (DEX)?You might also like: How Does it Work?

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